WASHINGTON — The Internal Revenue Service announced Wednesday that it is giving tribal governments until the end of 2011 to issue the first $1 billion tranche of tribal economic development bonds, in an effort to save the tribes from having to forfeit any unused allocations at year-end.

Any tribal government that received an allocation under the first of two $1 billion tranches now has until June 30 to issue the bonds. The original deadline for issuance allocated under the first tranche was the end of this year. The issuers also can apply in writing to the IRS to have a second six-month extension to the June 30 deadline, meaning they would have until the end of 2011 to issue bonds, the IRS said.

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